Bike Loan/ Two Wheeler Loan Interest Rates

If you are taking a loan for a two-wheeler you can take it for both regular two-wheelers and even for super-bikes. Like a motorcycle, Moped, Battery operated two-wheelers belongs to the branded company.

Two Wheeler Loan Interest Rates

SBI Two-Wheeler Loan Interest Rates-

  • Your bike value can be financed up to 90%.
  • For example, if you have taken the loan amount of Rs.1,50,000.
  • The processing fee will be 1% of the loan amount which is minimum Rs.500/- to maximum Rs.10,000/-
  • The EMI for the above amount has to be paid Rs.4.808/-.
  • The interest rate will be 9.55% per annum.
  • Total the repayment of the amount to the bank for Rs.1,50,000 could be Rs.1,74,604. It will be maximum up to 3 years
  • It is important to note that the above-given details have been calculated depending on the principal amount and the tenure period for three years.
  • The interest rates may change depending on the Bank’s discretion.

Bike loan interest rates

Bike Loan Interest Rate of HDFC Bank

  • Here the financing of your vehicle will be up to 100%
  • For example, if you have taken the loan amount of Rs.1,50,000/-, the processing fee for the amount would be the maximum %of the loan amount.
  • Interest rates for the loan are 11.42% to 22.45% per annum.
  • The EMI has to be paid for the loan is Rs.5,764/-.
  • The total repayment amount could be Rs.2,11,988/-
  • The interest rates may be changing depending on the Bank’s discretion.
  • The above details are for the tenure period of three years.

Bike Loan Interest Rates of PNB (Punjab National Bank)

  • At this bank, there is a special offer on the schemes on the two-wheeler loan for women borrowers.
  • There is also an extended repayment option for motorcycles and scooters up to a period of 5 years which will be 60 months.
  • For women borrowers- If you have taken a loan amount of Rs.1,50,000, the interest rate on the amount will be 10.20% per annum.
  • EMI to be paid will be Rs.4,854/-.
  • The total repayment of the amount for Rs.1,50,00 is Rs.1,74,750/- for women borrowers.
  • If you are a regular borrower the interest rate for Rs.1,50,000/- will be 11.70% to 13.20% per annum.
  • The EMI amount you have to pay is Rs.4,961/-.
  • For regular borrowers the repayment of the loan amount for Rs.1,50,000/- is Rs.1,78,585/-.
  • The processing fee for both regular and women burrowers will be Rs.275/-
  • The above calculations are for the tenure period of three years.
  • There may be changes in the interest rates according to the bank’s discretion.

 Andhra Bank Two wheeler Loan Interest Rates

  • The Financing of your vehicle at Andhra bank will be 85% for regular borrowers and 90% for women borrowers.
  • There is also a special loan scheme for women’s borrowers at Andhra Bank.
  • The processing fee is also very low.
  • For women borrowers- If you have taken a loan amount of Rs.1,50,000, the interest rate on the amount will be 10.70% to 10.95% per annum.
  • EMI to be paid will be Rs.4,890/-.
  • The total repayment of the amount for Rs.1,50,00 is Rs.1,77,523/- for women borrowers.
  • If you are a regular borrower the interest rate for Rs.1,50,000/- will be 10.70% to 10.95% per annum.
  • The EMI amount you have to pay is Rs.4,890/-.
  • For regular borrowers the repayment of the loan amount for Rs.1,50,000/- is Rs.1,7,523/-.
  • The processing fee for both regular and women burrowers will be 1% of the loan amount which will be a minimum Rs.500 and the maximum will be Rs.5,000/-. The taxes will be charged extra.
  • The above calculations are for the tenure period of three years.
  • There may be changes in the interest rates according to the bank’s discretion.

Union Bank of India Two-Wheeler Loan Rate

  • If you are taking a 2-wheeler for the on-road price, 85% of the financing value will be there for your vehicle.
  • To purchase a two-wheeler this bank will provide you up to Rs.10 lakh loan.
  • If any borrower is prepaying using their own funds then they need not have to pay any prepayment fee.
  • If any burrowers taking a loan amount of Rs.1,50,000 as a 2-wheeler loan then they have to pay the repayment amount of Rs.1,79,077. With the processing fee at 0.50% of the loan amount. This processing fee will be a maximum of 15,000 and taxes also have to be paid by the borrower.
  • EMI amount of Rs.4,954/- has to be paid.
  • The interest rate is 11.60% per annum for the loan amount.
  • These details are for the tenure period of 3 years. IT may change if the tenure period changes.
  • Depending on the bank’s discretion the interest rate may change.

Indian Bank Two-Wheeler Loan Interest Rate

  • At this bank, you can get your bike financing up to 85%.
  • They’re also a benefit of repaying your loan for a period of up to 60 months which is 5 years.
  • If the borrower is taking a loan of amount Rs.1,50,000 from the bank then for the tenure period of 3 years they have to pay EMI of Rs.4,989/- at the interest rate of 12.10%.
  • The processing fee would be 0.235 of the loan amounts which will be maximum Rs.10,236.
  • The total repayment of the amount could be Rs.1,79,960/-.
  • There may be chances of changing the interest rate depending on the bank’s discretion.

Corporation Bank Interest Rates For Two-Wheeler Loan

  • You can get up to Rs.1 lakh to purchase a motorcycle you are wishing for.
  • For your two-wheeler, you can get insurance, accessories, and registration as well.
  • For the loan amount of Rs.1,50,000/- the applicants have to pay the repayment with the amount of Rs.1,81,400/-.
  • This amount was calculated with the processing fee of 0.50% of the loan amount this will be the minimum charge as Rs.500/-.
  • The EMI for the amount could be Rs.5,018/- with the interest rate at 12.50% per annum.
  • This calculation is for the tenure period of three years.

Two-Wheeler Loan With Lowest Interest Rate Canara Bank-

  • There are special interest rates for women borrowers.
  • You can extend your loan repayment tenure up to 84 months which is 7 years.
  • For women borrowers- If you have taken a loan amount of Rs.1,50,000, the interest rate on the amount will be 11.70% to 12.10% per annum.
  • EMI to be paid will be Rs.4,961/-.
  • The total repayment of the amount for Rs.1,50,00 is Rs.1,78,960/- for women borrowers.
  • If you are a regular borrower the interest rate for Rs.1,50,000/- will be 11.75% to 12.15% per annum.
  • The EMI amount you have to pay is Rs.4,964/-.
  • For regular borrowers the repayment of the loan amount for Rs.1,50,000/- is Rs.1,79,088/-.
  • The processing fee for both regular and women burrowers will be 0.25% of the loan amount which will be minimum Rs.1000 and the maximum will be Rs.5,000/-. The taxes will be charged extra.
  • There may be changes in the interest rates according to the bank’s discretion.

Compare the Bike Loan Interest rates Of All Banks–

Comparing the interest rates with all the banks will help you in planning to link up with which bank you want to take the loan. Comparing the interest rates with all the banks before applying a loan or any bile loan is a knowledgeable thing. As interest rates bring differences in your amount of repayment of the loan. As you can go to each bank and get the details to compare the interest rates.

Here we are providing you the details of the interest rates with all the banks. You can compare here the interest rates for planning for your bike-loan. The given details are just per the amount. These rates may also change depending upon the tenure period, processing fee, and more.

Bank Two-Wheeler Loan Interest Rates* Lowest EMI per Rs. Ten Thousand for Max Tenure
Canara Bank 13.55% Rs. 340 for 3 years
SBI 12.65% Rs. 335 for 3 years
Corporation Bank 12.35% Rs. 334 for 3 years
IndusInd Bank 12.00% Rs. 332 for 3 years
Union Bank of India 11.55% Rs. 330 for 3 years
HDFC Bank 14.03% Rs. 273 for 4 years
Allahabad Bank 11.80% Rs. 262 for 4 years
Bajaj Auto Finance 18.00% Rs. 254 for 5 years
Karnataka Bank 13.85% Rs. 232 for 5 years
United Bank of India 11.00% Rs. 217 for 5 years
PNB 10.70% Rs. 216 for 5 years
Andhra Bank 10.35% Rs. 214 for 5 years
Indian Bank 9.65% Rs. 211 for 5 years
Jammu And Kashmir Bank 9.65% Rs. 211 for 5 years
Bank of India 8.85% Rs. 207 for 5 years

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